SECURITIES AND EXCHANGE COMMISSION
 
                         Washington, D.C.  20549
 
 
                                _________
 
                                FORM 8-K
 
                             CURRENT REPORT
 
 
                 Pursuant to Section 13 or 15(d) of the
 
                     Securities Exchange Act of 1934
 
                     Date of Report: August 23, 1994
                    (Date of earliest event reported)
 
                     JOHN DEERE CAPITAL CORPORATION
           (Exact name of registrant as specified in charter)
 
                                DELAWARE
             (State or other jurisdiction of incorporation)
 
                                 1-6458
                        (Commission File Number)
 
                               36-2386361
                    (IRS Employer Identification No.)
 
                                Suite 600
                     First Interstate Bank Building
                           1 East First Street
                           Reno, Nevada 89501
          (Address of principal executive offices and zip code)
 
                              (702)786-5527
          (Registrant`s telephone number, including area code)
 
                 _______________________________________
 
                         Page 1 of 4 pages.
            The Exhibit Index appears at Page 4.

Item 5. Other Information Events.
 
 The following information was included in Deere & Company's
press release reporting earnings for the quarter:
 
 John Deere Capital Corporation's net income was $25.8 million in
the third quarter
 of 1994 compared with $28.6 million in the same period last
year.  The decrease
 reflects lower gains from the sale of retail notes and slightly
lower financing margins
 due to a competitive marketplace.
 
 For the first nine months of 1994, net income was $74.7 million,
compared with
 income of $82.8 million in 1993, excluding the cumulative effect
of accounting
 changes ($79.0 million after the accounting changes).  Compared
with last year,
 income for the first nine months of 1994 was unfavorably
affected by the impact of
 a smaller average receivable and lease portfolio caused mainly
by the sale of retail
 notes in 1993, and lower gains related to notes previously sold.

These decreases
 were partially offset by higher securitization and servicing fee
income from retail notes
 previously sold but still administered and a lower provision for
credit losses.    The
 average receivable and lease portfolio financed was
approximately four percent lower
 during the first nine months of this year compared with a year
ago.
 
 Total receivable and lease acquisitions increased by 15 percent
for the quarter and
 14 percent year-to-date compared with the same periods last
year.  The higher
 acquisitions during the first nine months were attributable to
increased volumes of
 retail notes, revolving charge accounts and wholesale
receivables.  Net credit
 receivables and leases financed by John Deere Capital
Corporation were $4.134
 billion at July 31, 1994 compared with $3.710 billion one year
ago.  The increase in
 the receivable and lease portfolio financed resulted mainly from
a higher balance of
 John Deere notes and leases, and revolving charge accounts.  Net
credit receivables
 and leases administered, which include receivables previously
securitized and  sold,
 amounted to $4.947 billion at July 31, 1994 compared with $4.670
billion at July 31,
 1993.
 
 Item 7.    Financial Statements and Exhibits.
 
 (c)    Exhibits
 
     (99)    Press release and additional information of Deere &
Company.

Signature
 
 Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant
 has duly caused this report to be signed on its behalf by the
undersigned hereto duly
 authorized.
 
                             JOHN DEERE CAPITAL CORPORATION
 
 
 
                              By   /s/ Frank S. Cottrell     
                                 Frank S. Cottrell, Secretary
 
 Dated:  August 23, 1994

  
                              EXHIBIT INDEX 
 
 
                                                  Sequential
 Number and Description of Exhibit                Page Number
 
 
 
 
 (99)   Press release and additional information                 

                                
        of Deere & Company (Incorporated by reference 
        to Deere & Company Current Report on  Form 8-K 
        dated 24 May 1994 file no. 1-4121).